Harvest Fund Management Co. Ltd Acquires New Shares in The Vita Coco Company, Inc. (NASDAQ:COCO)

Harvest Fund Management Co. Ltd acquired a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, HoldingsChannel reports. The fund acquired 12,377 shares of the company’s stock, valued at approximately $457,000.

A number of other institutional investors have also recently bought and sold shares of COCO. GAMMA Investing LLC boosted its position in Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Vita Coco in the fourth quarter worth about $52,000. Venturi Wealth Management LLC acquired a new stake in shares of Vita Coco in the fourth quarter worth about $66,000. Quest Partners LLC lifted its position in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after buying an additional 3,473 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock worth $199,000 after buying an additional 1,434 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Buying and Selling

In related news, COO Jonathan Burth sold 700 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $40.25, for a total transaction of $28,175.00. Following the transaction, the chief operating officer now directly owns 104,108 shares in the company, valued at $4,190,347. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira Liran sold 20,235 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.07, for a total value of $810,816.45. Following the transaction, the director now owns 814,302 shares in the company, valued at $32,629,081.14. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,410 shares of company stock valued at $3,017,811. Insiders own 34.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on COCO. The Goldman Sachs Group boosted their price target on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Bank of America boosted their price target on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company reduced their price target on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and a consensus target price of $35.14.

Vita Coco Stock Performance

NASDAQ COCO opened at $35.51 on Friday. The Vita Coco Company, Inc. has a twelve month low of $23.00 and a twelve month high of $40.32. The stock has a market capitalization of $2.02 billion, a PE ratio of 35.87, a P/E/G ratio of 2.25 and a beta of 0.34. The stock has a 50-day simple moving average of $36.31 and a 200 day simple moving average of $33.63.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.